Brussels, Dec 12 (IANS) Leaders of the European Union (EU) reached an agreement to cut the bloc’s greenhouse gas emissions by at least 55 per cent by the end of next decade from the 1990 level, European Council President Charles Michel announced. “Europe is the leader in the fight against climate change. We…
CAIRO (Reuters) – Algerian Energy Minister Abdelmadjid Attar said on Sunday that OPEC+ countries will meet on Jan. 4 to study the market after their last decision to limit production rises to 500,000 barrels per day starting next year, Algeria’s state news agency said. The minister’s comments came after the conclusion of…
European Union leaders early Friday gave the green light for the expansion of sanctions against Turkey over its exploration of gas reserves in Mediterranean waters claimed by EU members Greece and Cyprus. Regrettably, Turkey has engaged in unilateral actions and provocations and escalated its rhetoric against the EU, EU member states and European…
The UAE Ministry of Energy and Infrastructure, along with the Israeli Ministry of Energy, held their first natural gas and petroleum working group meeting to discuss opportunities for cooperation and collaboration. Following the signing of the historic Abraham Accords in Washington earlier this year, representatives from the UAE and Israel welcomed the opportunity…
After a week of contentious OPEC+ discussions, in which the UAE played a key role, it appears that the Abu Dhabi National Oil Company (ADNOC) is now aggressively pursuing market share. The UAE was very vocal during the OPEC+ meeting about its resentment of having to carry the burden of COVID-19 demand destruction…
The oil-producing subsidiary of Russian state gas giant Gazprom, Gazprom Neft, has announced that it plans to launch a fourth well at the Sarqala field in Iraq’s semi-autonomous region of Kurdistan (KRI) in the first half of 2021. Not only will this consolidate its own foothold in the KRI but it will also…
New Delhi: Oil major BP has expanded a renewable energy supply deal with Amazon.com Inc to power the U.S. e-commerce giant’s operations and Amazon Web Services in Europe, the British company said on Thursday. The company said it would supply Amazon with an additional 404 megawatts of wind power in Europe, starting…
BRUSSELS, The European Union is planning to restrict its funding for natural gas projects because of the risk they pose to the bloc’s climate goals, according to draft rules seen by Reuters. The “TEN-E” rules define which cross-border energy projects can be labelled “Projects of Common Interest” (PCI), meaning they can receive…
U.S. crude oil stockpiles last week surged the most since April, jumping more than 15 million barrels, as imports rose and exports plunged, the Energy Information Administration said on Wednesday. The unexpected supply build and record rise in net imports stunned the oil market, which has been weighed down by low demand due to…
Iraq plans to invite international companies to compete in order to build a 300,000 b/d refinery south of the country, the oil minister said Nov. 18, as OPEC’s second largest oil producer seeks to wean itself off crude products imports. The refinery, to be built in Fao in the Basra Governorate, will be offered…
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